The Federal Housing Finance Agency (FHFA) has sparked debate in the mortgage industry by directing Fannie Mae and Freddie Mac to explore whether cryptocurrency assets should be considered in loan underwriting. The potential move signals a significant shift in how digital assets might be evaluated in determining mortgage eligibility.
Shares of Fair Isaac Corp. (FICO), the company behind the widely used FICO credit score, fell sharply after a major shift in the credit scoring landscape. The drop came after Fannie Mae and Freddie Mac announced they would begin accepting the competing VantageScore 4.0 credit model, ending FICO's long-standing exclusivity in government-backed mortgage underwriting.
Mortgage rates have edged higher for the third consecutive day, with the average top-tier 30-year fixed rate now at approximately 6.81%, up from 6.67% at the end of June. While this uptick marks a short-term reversal, rates remain lower than the peaks seen earlier in the summer.
Fannie Mae and Freddie Mac have recently increased the amount of information they share about condominium developments—particularly those classified as ineligible for financing. While the move has been praised as a step in the right direction, many lenders say the enhancements still leave major gaps in transparency and usability.
Mortgage rates dipped to their lowest level since late April, driven by a rally in mortgage-backed securities (MBS) and a softer-than-expected tone from the Federal Reserve. Bond markets responded positively to Fed Chair Jerome Powell’s latest comments, which hinted at growing openness to rate cuts amid signs of labor market cooling.
How quickly will mortgage rates increase?How high will they go? What impact will increasing rates have on mortgage underwriters and processors? These are some of the questions Freddie Mac attempted to answer in its latest Insight report.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Housing is a critical staple of the economy. Home values, home sales and home construction are strong indicators of economic growth or stagnation. Home ownership often represents stability, community, and household wealth. For decades, tax laws and economic policies have been designed and enacted to encourage home ownership and maintain a strong housing market, especially when other areas of the economy are on the decline.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Freddie Mac and Fannie Mae intend to increase loan purchases from rural areas over the next three years as a key part of their Duty to Serve plans.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
An effort to curb the practice of churning VA home loans took a major step this month. U.S. Senators Elizabeth Warren, D-Massachusetts, and Thom Tillis, R-North Carolina, recently introduced the Protecting Veterans from Predatory Lending Act of 2018.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
The cost of housing is among the largest barriers to homeownership. Properties in the lowest tiers of affordability are in short supply and inventories have shrunk in recent years, especially in the nation’s largest markets.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
In another sign that the housing market is strong, the Federal Housing Administration (FHA) is increasing maximum loan limits for FHA forward mortgages in more than 3,000 counties next year.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
According to the Federal Reserve, the U.S. economy averaged 170,000 new jobs per month from January through October. The nation’s GDP grew 3 percent year-over-year in both the second and third quarters. Third-quarter economic growth occurred despite the effects of destructive hurricanes in Texas and Florida.
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The lack of housing supply available for prospective homeowners is well documented. Existing homes are being put on the market, and new homes are not being built to the extent they have been in the past.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
As 2017 winds down, officials at Fannie Mae may not be able to look forward to reform measures anytime soon but the government-sponsored enterprise (GSE) appears to have a bright feature after a busy year of initiatives.
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Four months after it was introduced, legislation that would amend the Home Mortgage Disclosure Act (HMDA) passed out of the House Financial Services Committee.
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Written By: Stacey Sprain
As an FHA originator, processor or underwriter, it’s likely that in the ongoing foreclosure market you’ll run across a HUD REO loan at some point. The purpose of this multi-part article is to provide you with some useful information to help in your endeavors.